Trustmark (NASDAQ:TRMK) Announces Earnings Results

Trustmark (NASDAQ:TRMK) released its earnings results on Tuesday. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09, Zacks reports. Trustmark had a net margin of 17.62% and a return on equity of 9.48%.

Trustmark Price Performance

NASDAQ TRMK traded up $0.29 during trading hours on Tuesday, hitting $36.52. 365,999 shares of the company’s stock traded hands, compared to its average volume of 299,234. Trustmark has a 52-week low of $25.24 and a 52-week high of $40.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $2.23 billion, a PE ratio of 11.03 and a beta of 0.76. The firm’s 50-day moving average is $36.56 and its 200-day moving average is $34.53.

Analyst Ratings Changes

Several research firms have commented on TRMK. Janney Montgomery Scott initiated coverage on shares of Trustmark in a research report on Friday. They set a “buy” rating and a $42.00 price objective for the company. DA Davidson upped their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Truist Financial lifted their price target on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Hovde Group lifted their price objective on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus target price of $36.33.

Insider Buying and Selling

In related news, Director Gerard R. Host sold 26,416 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the transaction, the director now directly owns 26,792 shares in the company, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares of the company’s stock, valued at $263,217.26. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,206 shares of company stock worth $1,347,991. 1.50% of the stock is owned by corporate insiders.

Trustmark Company Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.